I have yet to hear one person claim that they think Division 1A College Football's Bowl Championship Series is fair or even successful. Even the administrators of the BCS do not dare to take such stances. Just before the 2008 Presidential Election, Barrack Obama said that he wanted to see a playoff format. The BCS administrators immediately responded, indicating that they did consider the idea, but there is not currently a viable option.
In some respects, I understand. This is football. This is also a game played by college students. Given that a football team can really only play once a week (as opposed to basketball where they can play as much as four times over a four day stretch), and that playing football is not technically supposed to be their primary objective, prolonging the season could cut into the students' education. Some will argue, "So what, they don't care!". I am not certain of the exact figure, but I would not be surprise to find out that less than 5% of all collegiate football players actually get drafted by the National Football League (with less than 1% actually having careers lasting more than four seasons). Thus, almost all collegiate football athletes will have to rely on something other than their athletic skills to earn a living.
Almost all college football fans want to see a playoff system, but the BCS does not. The current format of the BCS is to have the top two teams in the polls play each other at the end of the season. They play in an annual rotation of four bowl games: Fiesta Bowl, Rose Bowl, Sugar Bowl, and Orange Bowl. Thus, permitting only two teams to fight for the crown. The other three bowl games consist of the remaining top teams. Often times, however, there are more than just two teams that are worthy of becoming the national champions.
Thus, here is a compromise: setup the BCS to matchup the teams in a playoff format, but with only game. For example, #1 vs. #8, #2 vs. #7, #3 vs. #6, #4 vs. #5. This format will give at least 5 teams a chance at becoming the champions. For example, should the #1 and #2 teams lose while the #3 team wins, then #3 would win the national championship. Should #1, #2, #3 lose, and #5 defeats #4, then #5 would be the champion. Of course, if #1 wins their game, then they will be the national champions.
Furthermore, by allowing the 4-5 matchup to play first, then the 3-6, then 2-7, then 1-8, then that will increase viewership leading up to the #1 vs. #8 game.